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. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles. the fine print on why the company's two big buys are raising big red flags. >>> and nat gas revolution, the government says exporting nat gas could be a game changer for america's economy, but at what cost? we'll take a deeper dive to find some answers. but first, our top story tonight. >>> everyone cares about the fiscal cliff, except, seemingly, the markets. just 25 days until the year end deadline and still no deal out of washington. still stocks quietly climb higher. the dow closing today at a one-month high. what gives? just an assumption that a deal -- >> it almost gets back to that you never short. we're all waiting for some type of closu
. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles....
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cliff. >> fiscal cliff. >> we could go off this fiscal cliff. >> we are facing a fiscal grand canyon. >> reporter: it's a big deal, question is, can these guys strike a deal? >> i have to repeat, i have a pen. >> reporter: meantime, damage control for u.n. ambassador susan rice, how to smooth things over this week with republicans after those benghazi talking points. >> extremist elements came to the consulate as this was unfolding. >> reporter: the didn't work, now, their talking points. >> we are significantly troubled. >> i want to say that i'm more troubled today. >> reporter: democrats shot back. >> they're not only blaming her for this intelligence report, they're trying to blame her for the actual tragic event. >> i've seen so much crazy stuff in this house, i could write a bock. >> or make an internet video that's actor angus t. jones caught slamming his own tv show. >> if you watch "two and a half men" please stop watching "two and a half men." i'm on it and don't want to be on it. >> reporter: he apologized but may still get his wish. now, to just two men. these two men. in
cliff. >> fiscal cliff. >> we could go off this fiscal cliff. >> we are facing a fiscal grand canyon. >> reporter: it's a big deal, question is, can these guys strike a deal? >> i have to repeat, i have a pen. >> reporter: meantime, damage control for u.n. ambassador susan rice, how to smooth things over this week with republicans after those benghazi talking points. >> extremist elements came to the consulate as this was unfolding. >> reporter:...
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wouldn't that bring an end to the fiscal cliff? we could wrap it up now and everybody could go on vacation? >> yes, but you're asking the wrong guy. i'm not in congress. >> but you're on set, will. come on, suck it up! >> i'm going to answer. i'm always happy to talk if you're going to put the camera on me. i can see reality in front of me and see that republicans have very little leverage to decide or impose their will on this outcome. that being said, what they're looking at is how can we kind of salvage a political victory out of this and stand for what we want? as you've had people on this program suggest, it may just be going over the fiscal cliff and not voting for a tax raise and then later negotiating taxes down. >> republicans will be blamed, polls show, if we go over the cliff. >> let's turn to jeb henserling, newly named chairman of the house committee and co-chair on the super committee. we heard will saying how do you salvage a political victory? the reality is if nothing is done, if you cannot get together, you go ove
wouldn't that bring an end to the fiscal cliff? we could wrap it up now and everybody could go on vacation? >> yes, but you're asking the wrong guy. i'm not in congress. >> but you're on set, will. come on, suck it up! >> i'm going to answer. i'm always happy to talk if you're going to put the camera on me. i can see reality in front of me and see that republicans have very little leverage to decide or impose their will on this outcome. that being said, what they're looking at...
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and we have this thing that "fiscal cliff," that so-called "fiscal cliff" "fiscal cliff" that we're sick of. how is that going to impact the whole job situation? >> reporter: you know, for a while it looks like it wasn't going to but in recent surveys we see that businesses are putting off investing and hiring until congress and the president finish their wrangling. i think the reason is pretty clear. uncertainty over taxes and the impact of scheduled government cuts on the economy is really making it hard for companies to plan. so instead, they are keeping their spending in a wait-and- see mode and again, that's going to persist until we get resolution. for more on the jobs report preview, go to moneywatch.com where we warn that things could get ugly in the labor market before they turn around. >> okay. jill schlesinger, editor at large for cbsmoneywatch.com, thank you. >>> i'm going to have to separate my coanchor and our weather guy because we have a quasi denver bronco fan here, she grew up there. we'll let her have that. quasi. and a huge raider fan. >> and they play tonight. huge r
and we have this thing that "fiscal cliff," that so-called "fiscal cliff" "fiscal cliff" that we're sick of. how is that going to impact the whole job situation? >> reporter: you know, for a while it looks like it wasn't going to but in recent surveys we see that businesses are putting off investing and hiring until congress and the president finish their wrangling. i think the reason is pretty clear. uncertainty over taxes and the impact of scheduled...
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off the fiscal cliff. the 10-year plan promises to shave $2.2 trillion through a combination of entitlement cuts and tax reform measures. but house republicans still refuse to meet president obama's bottom line. letting the bush tax cuts expire for the wealthy. in the statement, the white house said that the plan fails the balance test and sticks the middle class with the bill. >>> the gay marriage in california is still on hold tonight. the u.s. supreme court could have announced today whether they would review prop 8. instead the justices announced that they will wait until friday to discuss whether to take up the case. legal experts say the delay ruling means nothing. >> it's like we have so many cases on the docket. let's put this one off next week, no big deal. that's really what happened. it really isn't the dog that didn't bark, but it's the case that has not been resolved yet and we're still waiting. >> professor little says he expects if the court grants a review that we'll know by friday. but if
off the fiscal cliff. the 10-year plan promises to shave $2.2 trillion through a combination of entitlement cuts and tax reform measures. but house republicans still refuse to meet president obama's bottom line. letting the bush tax cuts expire for the wealthy. in the statement, the white house said that the plan fails the balance test and sticks the middle class with the bill. >>> the gay marriage in california is still on hold tonight. the u.s. supreme court could have announced...
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good data on one fis, fiscal cliff fears on the other. if we hit the cliff, is defense done as an investment? we'll find out. >>> plus the latest on why fast food workers are working to unionize and maybe even strike across america. >>> and the scary story about the surge in spooks. how spies apparently are everywhere now, mandy. >> and you wouldn't even know. >>> let's load you up on some vital stats. firstly, december is historically the best performing month of the year but today the dow and s&p are down for the first time in four days. dow was up 61 points before the disappointing ism data at 10:00 a.m. this morning. it has never recovered. s&p is flirting with a three-week high even though it is slightly lower. nasdaq touched a one-month high earlier on. >>> never doubt the power of of the american consumer is what we always say here on "street signs." holiday shopping season is in full swing and that, my good people, has propelled the s&p retail next to a record high early again today, though as we speak it is slightly lower. let's
good data on one fis, fiscal cliff fears on the other. if we hit the cliff, is defense done as an investment? we'll find out. >>> plus the latest on why fast food workers are working to unionize and maybe even strike across america. >>> and the scary story about the surge in spooks. how spies apparently are everywhere now, mandy. >> and you wouldn't even know. >>> let's load you up on some vital stats. firstly, december is historically the best performing month...
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yep, this is how one man sees the fiscal cliff and it's a pretty important man. this is alan simpson. ♪ yep. that maybe the most action the fiscal cliff saw today. here's the scene on capitol hill at noon. yep, people leaving. members of congress leaving washington, heading home on wednesday afternoon. one man left standing was the house speaker and he says i'm not going anywhere. >> i'll be here and i'll be available at any moment to sit down with the president to get serious about solving this problem. >> but of course, it takes two to tango, so where does president obama stand? >> we can probably solve this in about a week. it's not that tough. >> it's not that tough. he's absolutely right about that. but we heard early this evening that the president and speaker boehner did speak late today on the phone, so that's good news, but in this case, they need face time. they need to spend real time face to face. even democrats think the president needs to do more in person work on this. >> the president is not somebody who he's prioritizing evenings with his famil
yep, this is how one man sees the fiscal cliff and it's a pretty important man. this is alan simpson. ♪ yep. that maybe the most action the fiscal cliff saw today. here's the scene on capitol hill at noon. yep, people leaving. members of congress leaving washington, heading home on wednesday afternoon. one man left standing was the house speaker and he says i'm not going anywhere. >> i'll be here and i'll be available at any moment to sit down with the president to get serious about...
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fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be running for the hills or at least buying portfolio protection to protect themselves against potential disaster. we see the vix very low. they're not taking the type of defensive, decisive action. if we get a downgrade and if this happens, it will be terrible for the market. that's what's potentially on the market, if we don't make a deal in washington. >> scott, let me ask you again how you want to allocate capital then in that environment. i know george young is with us again, joining the conversation. i want to ask you the same question. go ahea
fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be...
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fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game. because we have to break that habit before it starts. >> bret: what about that? >> well, the president had as many red lines for iran as for house republicans. i think what kirsten said is absolutely remarkable. it is about the scalp. it's about the president having made a campaign argument for the better part of 2012. so that he could run a class warfare campaign. now having to make good on that with the base of his party. the u.s. economy be damned. the republicans offered to give so much and offering precisely what erskine bowles laid out as a compromise position in
fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game....
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. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive. it is the math. >> magic math. >> magic beans and fairy dust. >> president obama did win the election. >> me thinks somebody made him king. >> no. i don't think that's right. >> he doesn't see where he stands in the universe. >> i would say we're nowhere. >> are we that far apart? >> both sides want a deal. >> a matter of math. >> try to stay away from hypotheticals. >> it won't pass. >> discussions about unicorns. >> unicorns. >> they're imaginary beasts. >> magic beans. >> magic math. >> an enchanted universe. >> outrageous. >> the whole thing is going wacky. >> i would say we're nowhere. >> i don't envy the position the speaker is in. >> we're nowhere. ?
. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive....
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it is because of the fiscal cliff, not because of the fiscal cliff, the fiscal clip could be play no role in this whatsoever. move on. fory's 30 mortgage rate rising to 3.34% and senator jim demint beating the senate to lead the heritage foundation. back in a moment. i ed to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares bylackrock. call 1-800-ishes for a prosctus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforter
it is because of the fiscal cliff, not because of the fiscal cliff, the fiscal clip could be play no role in this whatsoever. move on. fory's 30 mortgage rate rising to 3.34% and senator jim demint beating the senate to lead the heritage foundation. back in a moment. i ed to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their...
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and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and partisans polarized this is a problem. >> i keep saying we need a presidential historian or hostage negotiator. somebody could say we've been at stalemates before, gotten over it, shut down the government in '96. tip o'neill and ronald reagan managed to solve problems and get along. listen to what john mccain said about what we need here. >> it's time now to sit across the table from one another, rather than -- in the way they did with ronald reagan and the way you get things done in washington. >> the way they did with ronald reagan and get things done in washington. you sit together and figure it out. they were at a holiday party they didn't talk to each other. they're issuing sort of statements and rebuttals and saying i'm not going to budge. >> negotiation by press release. this is not how things get done in washington and part of
and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and partisans polarized this is a problem. >> i keep saying we need a presidential historian or hostage negotiator. somebody could say we've been at stalemates before, gotten over it, shut down the government in '96. tip o'neill and ronald reagan...
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tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not affected by the top 2 percent. having said that, they want people to get back to work. people to have jobs to have incomes to buy from the small business people. blue are small or large you want to know which, how are the laws going to be, what are the tax lie bills going to be, and this congress owes it to the american people to tell them. >>eric: congressman, america has always been about hard working people earning, creating jobs, creating opportunity, passing a better life on to the next generation, to their kids, i don't know, at some point maybe you say it is time to man up, go over the fiscal
tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not...
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. >>> we'll turn now to if fiscal cliff, 30 days from an economy-crippling deadline. yet talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. >> last weekend, you sat right here and you said you were reasonably optimistic that a deal could be afoot. in the intervening week, lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, mitch mcconnell laughed when they got the offer from geithner. house speaker boehner said that the talks are at a stalemate. democrats said they're not going to make another move until republicans say they're going to go for an increase in tax rates. so, this is stalemate right now. now, these things always look horrible when they come together. more and more voices say, this is going to go over the fiscal cliff at least for a few days in january. >> if we go over the fiscal cliff, voters will likely blame the republicans for that. is is tha
. >>> we'll turn now to if fiscal cliff, 30 days from an economy-crippling deadline. yet talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. >> last weekend, you sat right here and you said you were reasonably optimistic that a deal could be afoot. in the intervening week, lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these...
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. >>> breaking news on the fiscal cliff. the gop saying they will agree to more tax revenue if something else happens. we'll tell what you that is. >>> where is john mcafee? the millionaire is still on the run in central america. le call in to the show this hour with how he has been surviving. it is an interview you will not want to miss. >>> plus, are you overtaxed? maybe. but not by uncle sam. we'll tell you why. >>> and why it may be the end of the road for detroit. one state senator's plan to dissolve the city. he is your guest. happy friday, everybody. mandy will be back on monday. i'm brian sullivan. thank you very much for joining us. >>> stocks relatively in a holding pattern again all ahead of the fiscal cliff. we're not seeing big moves. people unwilling to take bets. we're going to get to bob pisani in just a minute. >>> but first we need to get to eamon javers with some breaking headlines from mitch mcconnell on the fiscal cliff. eamon? >> brian, we're getting a trial balloon here just within the past couple of m
. >>> breaking news on the fiscal cliff. the gop saying they will agree to more tax revenue if something else happens. we'll tell what you that is. >>> where is john mcafee? the millionaire is still on the run in central america. le call in to the show this hour with how he has been surviving. it is an interview you will not want to miss. >>> plus, are you overtaxed? maybe. but not by uncle sam. we'll tell you why. >>> and why it may be the end of the road...
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but how about the fiscal cliff? we're going to show you the real impact on americans' wallets and some stats to make you go -- hmm. apple slammed but the dow doesn't care. the indexes are higher as some break-away republicans are giving investors hope that a deal will get done. but will apple win the online music battle? >>> why pandora is being boxed out today. >>>ed unintended consequences of all these one-time dividends. mandy's off today so let's welcome in courtney reagan. >> thank you very much, brian. >>> blue chips are ruling the roost on wall street today. the dow bouncing back from morning loss to post triple digit gains. travelers, caterpillar and chevron accounting for a big chunk of that advance. >>> apple having its worst day in four months. pushing the nasdaq into negative territory. >>> bob, apple is lower than 4% -- we're going to toss it back to brian. >> courtney, hold your horses. >>> but first we've got to get a big development on the fiscal cliff negotiations. at this point we are still just a
but how about the fiscal cliff? we're going to show you the real impact on americans' wallets and some stats to make you go -- hmm. apple slammed but the dow doesn't care. the indexes are higher as some break-away republicans are giving investors hope that a deal will get done. but will apple win the online music battle? >>> why pandora is being boxed out today. >>>ed unintended consequences of all these one-time dividends. mandy's off today so let's welcome in courtney...
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no one know was the consequences will really be if we go over that fiscal cliff. we know that the tax hikes go up. some estimates -- ben bernanke, the fed chairman, fears that it will throw the country into a recession. that would hurt the whole country, of course president obama as well. they have to be careful here as well. but democrats and the president clearly believe that they have the leverage to force an increase in these tax rates on the upper income americans before they agree to a deal. >> we'll all be watching the stock market as well. if that indeed happen. >>> the president is also concentrating on recasting his new cabinet and one name that came up yesterday is a replacement for leon panetta at the defense department. actually a republican, chuck hagel. former senator from nebraska. >> it's possible, but this is a real game of musical chairs right now. the president has to fill at least three big jobs, secretary of state, hillary clinton, defense and cia. and if the president does not choose susan rice that means john kerry goes to state and hagel g
no one know was the consequences will really be if we go over that fiscal cliff. we know that the tax hikes go up. some estimates -- ben bernanke, the fed chairman, fears that it will throw the country into a recession. that would hurt the whole country, of course president obama as well. they have to be careful here as well. but democrats and the president clearly believe that they have the leverage to force an increase in these tax rates on the upper income americans before they agree to a...
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first, the fiscal cliff. the fiscal cliff sound bites, they are flying even if the actual negotiations are at a stand still. president obama says republicans, they're the ones that need to take the next step here. republicans say no way, ball's in your court, mr. president. >> we can probably solve this in about a week. it is not that tough. >> now we need a response from the white house. we can't sit here and negotiate with ourselves. now, the revenues we're put on the table are going to come from, guess who, the rich. >> if we can get the leadership on the republican side to take that framework, take knowledge of that reality, then the numbers actually aren't that far apart. >> where are the specifics, where are the discussions? nothing is going on. >> passing middle income tax cut means the end of holding them hostage from tax cuts for the middle -- for the rich. >> i think the next 72 hours are critical. if he sits back and continues to play politics, that will give your answer of where we're going. this
first, the fiscal cliff. the fiscal cliff sound bites, they are flying even if the actual negotiations are at a stand still. president obama says republicans, they're the ones that need to take the next step here. republicans say no way, ball's in your court, mr. president. >> we can probably solve this in about a week. it is not that tough. >> now we need a response from the white house. we can't sit here and negotiate with ourselves. now, the revenues we're put on the table are...
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whether we are going to go off of the fiscal cliff. a lot are saying hell, let's go over the fiscal cliff and show the american people who is responsible. >> unfortunately, democrats tend to be the responsible party in terms of actually wanting to governor. it's no surprise that when republicans are in power, government doesn't function well. >> they hate it. >> why would you make something operate well that you don't like? we have to remember why we are here. this is the piece of the story that is forgotten over and over again. the fiscal cliff is a creation of the republican party. had it not been for a republican party that was unwilling to grant this president an extension on the debt ceiling -- >> which every other president has been able to get in a bi-partisan fashion. >> absolutely. then we wouldn't be here right now. we would not be on the edge of the cliff. it's a precarious thing to negotiate around when you consider we might get thrown into a recession if we do go over it. but the more i watch the right, it the more it look
whether we are going to go off of the fiscal cliff. a lot are saying hell, let's go over the fiscal cliff and show the american people who is responsible. >> unfortunately, democrats tend to be the responsible party in terms of actually wanting to governor. it's no surprise that when republicans are in power, government doesn't function well. >> they hate it. >> why would you make something operate well that you don't like? we have to remember why we are here. this is the...
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stock markets edged lower today as the fiscal cliff talks drag on. the dow lost 13 points, the nasdaq was down five. trading was light as investors wait for details on the negotiations in washington. in six minutes, rita williams will tell us about a new poll on the fiscal cliff. do americans think it can be avoiding and who are they blaming. >>> sales of pandora plummeted. pandora is facing competition. >>> it appears brits are really getting into the royal pregnancy and bookmakers are taking odds. bets are being taken to if name of the expected babies. traditional names of royals such as elizabeth, victoria and williams are still the favorite. >>> a hollywood landmark is getting a make over. the last minute opposition to a bay area sheriff's purchase of an aerial drone. >> it's like the worse nightmare imaginable. it's like this isn't true. >> while in dialysis and (car horn) paying with your smartphone instead of cash... (phone rings) that's a step forward. with chase quickpay, you can send money directly to anyone's checking account. i guess he's
stock markets edged lower today as the fiscal cliff talks drag on. the dow lost 13 points, the nasdaq was down five. trading was light as investors wait for details on the negotiations in washington. in six minutes, rita williams will tell us about a new poll on the fiscal cliff. do americans think it can be avoiding and who are they blaming. >>> sales of pandora plummeted. pandora is facing competition. >>> it appears brits are really getting into the royal pregnancy and...
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way they stave off the fiscal cliff. spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line. the american economy is on the line and this is a moment for adult leadership. >> perhaps most su prirprising the white house proposal to get the president just about unlimited power to raise the nation's debt sealiceiling and w more and more money unless they reject. these will be tough negotiations ahead. we got a little sample of thi
way they stave off the fiscal cliff. spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet...
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why the fiscal cliff has him mining, panning and digging harder than ever. todd hoffman, "gold rush." jim, can you grow that beard? >> i love that show. i can grow the hair that he has. >> let's do it. we're back after this. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ come pre-filled with problems. enough is enough. introducing the chase liquid reloadable card. with chase liquid, there's no waiting and no fee to activate you can load cash and checks at any chase depositfriendly atm and there are no withdrawal fees at over 17,500 chase atms all for one flat fee of $4.95 per month. get rid of prepaid problems. get chase liquid. >>> why can't you be a made in america company? >> you
why the fiscal cliff has him mining, panning and digging harder than ever. todd hoffman, "gold rush." jim, can you grow that beard? >> i love that show. i can grow the hair that he has. >> let's do it. we're back after this. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when...
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abraham lincoln can help the fiscal cliff negotiations. harry reid believes so. the senate will get inspiration when reid hosts a clescreening the spielberg movie. >> whatever helps to get things moving, right? >>> hundreds of same-sex couples in washington state lined up overnight to get a marriage license now that they can legally wed. the county clerk's office in seattle opened at midnight to accommodate couples eager to make history. there's another historic first in washington overnight. it is now legal to buy and possess pot. the law, though, bans public use of marijuana, like drinking in public. and it's against the wall to sell pot. the state is trying to work out a system to license growers. >>> and with that, we'll take a look -- >> you can't buy it or sell it. >> time, now, for the weather across the country. showers from portland to seattle. up to eight inches of snow in the northern cascades and rockies. mild in the nation's midsection. pop-up showers in omaha, cincinnati and louisville. and scattered showers from the carolina
abraham lincoln can help the fiscal cliff negotiations. harry reid believes so. the senate will get inspiration when reid hosts a clescreening the spielberg movie. >> whatever helps to get things moving, right? >>> hundreds of same-sex couples in washington state lined up overnight to get a marriage license now that they can legally wed. the county clerk's office in seattle opened at midnight to accommodate couples eager to make history. there's another historic first in...
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will fiscal austerity, the fiscal cliff, the fiscal challenges better so daunting detour or impede a recovery and rebuilding in the wake of sandy? we're the united states and become together whether katrina comment tornadoes, hurricanes, flood s, earthquakes, across the country, we are a community we know what has to be done to the innocent victim of the storms. we demonstrate the courage and perseverance the real heroes have shown again and again across the country the most recently in connecticut , ed new york and new jersey. those who risk their lives to gave up looking after their own properties to rescue and help others and that is the spirit that will pervade the consideration that goes to the victims of the latest dorm. thank you. >> thank you. that is a perfect transition to the next panel. the senator asked an important question is a move forward with our courage and determination ii those of the constituents i think we will be in good hands with what i believe as been called upon us a 10 traneight -- country is strong enough to multitask. to with those opening statement the
will fiscal austerity, the fiscal cliff, the fiscal challenges better so daunting detour or impede a recovery and rebuilding in the wake of sandy? we're the united states and become together whether katrina comment tornadoes, hurricanes, flood s, earthquakes, across the country, we are a community we know what has to be done to the innocent victim of the storms. we demonstrate the courage and perseverance the real heroes have shown again and again across the country the most recently in...
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Dec 5, 2012
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stock markets edged lower today as the fiscal cliff talks drag on. the dow lost 13 points, the nasdaq was down five. trading was light as investors wait for details on the negotiations in washington. in six minutes, rita williams will tell us about a new poll on the fiscal cliff. do americans think it can be avoiding and who are they blaming. >>> sales of pandora plummeted. pandora is facing competition. >>> it appears brits are really getting into the royal pregnancy and bookmakers are taking odds. bets are being taken to if name of the expected babies. traditional names of royals such as elizabeth, victoria and williams are still the favorite. >>> a hollywood landmark is getting a make over. the last minute opposition to a bay area sheriff's purchase of an aerial drone. >> it's like the worse nightmare imaginable. it's like this isn't true. >> while in dialysis and battling cancer someone stole his beloved dog. the unlikely scenario that brought the two back together. [ woman ] ring. ring. progresso. i just served my mother-in-law your chicken nood
stock markets edged lower today as the fiscal cliff talks drag on. the dow lost 13 points, the nasdaq was down five. trading was light as investors wait for details on the negotiations in washington. in six minutes, rita williams will tell us about a new poll on the fiscal cliff. do americans think it can be avoiding and who are they blaming. >>> sales of pandora plummeted. pandora is facing competition. >>> it appears brits are really getting into the royal pregnancy and...
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. >> the administration, are they prepared to go over the fiscal cliff. >> absolutely. >> fiscal cliff negotiations in washington, still up in the air. most lawmakers have gone home for a long weekend. >> i'll be here and i'll be available at any moment to sit down with the president if he gets serious about solving this problem. >> the duchess of cambridge has left hospital. there for morning sickness. >> how are you feeling this morning, kate? >> as of today, possession of small amounts of marijuana is legal in the state of washington. >>> now the 55th annual grammy awards revealed. the top contender, kanye west and jay-z. >> he's got it. kobe bryant. the greatest player in the history of the los angeles lakers. >> all that, ready for your mistake? >> yeah. i'd like to hear it. >> can eating while driving be distracting. >> no! >> and all that matters. >> former senator alan simpson is bringing his meg abossage ab the national debt to a new generation. >> gangnam style. >> on cbs "this morning." >> the star? a toddler and tiaras earning a spot on barbara walters list of the 20 most f
. >> the administration, are they prepared to go over the fiscal cliff. >> absolutely. >> fiscal cliff negotiations in washington, still up in the air. most lawmakers have gone home for a long weekend. >> i'll be here and i'll be available at any moment to sit down with the president if he gets serious about solving this problem. >> the duchess of cambridge has left hospital. there for morning sickness. >> how are you feeling this morning, kate? >> as...
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. >> jennifer: karl, is the fiscal cliff a republican party? it's a problem for us, but the political side, isn't it really a problem for them? >> it's a huge problem not just in the immediate where we are right now sense of the word. i'm surprised when they showed them to blame i guess in the halls of congress the republicans said yes we're ahead in the poll. this boiled down to their fading power with their fading demographics in the country and the demographics that look poorly on them. acting as spoiled children that hold this country ransom does not help them with any of the demographics that reelected this house, increased the number of democrats in the house or the senate. >> the tea party might say we won one and we lost one. we won 2010. we lost 2012 because we were too moderate. we had a meally mouth nominee-- >> i believethey're in a position-- >> if they act like real conservatives, real nut jobs, then we're proven right. they're blinded by their own ideology. >> i'm not surprised that a party who does not believe in evolution has o
. >> jennifer: karl, is the fiscal cliff a republican party? it's a problem for us, but the political side, isn't it really a problem for them? >> it's a huge problem not just in the immediate where we are right now sense of the word. i'm surprised when they showed them to blame i guess in the halls of congress the republicans said yes we're ahead in the poll. this boiled down to their fading power with their fading demographics in the country and the demographics that look poorly...
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'sers.e.c.geithner's comments about going over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there there is a code of silence...
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you talk about the greek fiscal cliff. we have our own and people here say we could be the next greece. how does that make you feel when you hear that kind of talk from american politicians, american business people, american citizens? >> extremely worrisome because you represent 25% of the global economy whereas greece, which wasn't the cause of the european crisis, only represents 2% of the european gdp. so if you guys were to actually have such deep problems, then it would mean problems for everyone globally and no one would want that. i'm sure that you'll be able to find the right solution by the end of december. >> let us hope. mr. michalos, thank you very much. sue? >>> thank you, ty. two big winners in that $587 million record powerball lottery. but how much do you really need to earn to make you happy? the answer may surprise you. >>> and before you fill up your tank with gas, listen up. aaa is warning regulators to stop sales of a certain type of fuel at the pump because it could damage your car and void your car
you talk about the greek fiscal cliff. we have our own and people here say we could be the next greece. how does that make you feel when you hear that kind of talk from american politicians, american business people, american citizens? >> extremely worrisome because you represent 25% of the global economy whereas greece, which wasn't the cause of the european crisis, only represents 2% of the european gdp. so if you guys were to actually have such deep problems, then it would mean...
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it's 10:00 on the east coast and we begin with brooking news on the looming fiscal cliff. and signs of a potential fall. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise. but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials would behave like spoiled children in the fiscal cliff discussions. only 28% said they would behave like responsible adults. tonight, signs that maybe some adult behavior might be prevail. and a compromise might be reached. joining me now, dana bash, jessica yellin, and david gergen. what's the latest? >> reporter: they are a long way from a deal. but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no
it's 10:00 on the east coast and we begin with brooking news on the looming fiscal cliff. and signs of a potential fall. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise. but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials...
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congress designed the fiscal cliff. i think probably senator thune from south dakota is making the most sense last night saying maybe we should kick the can down the road for six months instead of trying to rush it i'm not a fan of kicking the can down the road, that's what congress does. in this case, you have everyone scrambling, trying to examine the ramifications of the election. you have new people coming in. some of the people voting were thrown out of congress. why not wait until the 1st of the year. >> kicking the can, you look at markets today. you have global markets up. stock futures are up. the stock market was up yesterday because this whole idea of optimism from john boehner and the president that this could get done by the end of the year is something the world wants to see. you look at our polling. our polling shows, and the most recent poll from abc news/"washington post," 60% of people support raising tacks on incomes over $250,000 per year. isn't the argument of kicking the can down the road losing so
congress designed the fiscal cliff. i think probably senator thune from south dakota is making the most sense last night saying maybe we should kick the can down the road for six months instead of trying to rush it i'm not a fan of kicking the can down the road, that's what congress does. in this case, you have everyone scrambling, trying to examine the ramifications of the election. you have new people coming in. some of the people voting were thrown out of congress. why not wait until the 1st...
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it is the fiscal cliff. if we go over that, if all the tax cuts expire, if we have the sequester, if we don't extend payroll tax relief and unemployment benefits, we will end up at the end of 2013 with about over 3 million fewer jobs than we would have had otherwise. just imagine that. the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to make this about ed. the fact remains that the debt levels we have in this country in effect put a cap on growth right now. >> sure, sure, sure. i think that economists have been saying for years -- i have said repeatedly, economists on both sides of the aisle have said repeatedly what we need is a long-term plan for deficit reduction that begins to take effect when the economy is closer to its capacity. right now it's at least 6% below its capacity. the unemployment rate, 7.7, it should be like 5.7 at capacity. we should no
it is the fiscal cliff. if we go over that, if all the tax cuts expire, if we have the sequester, if we don't extend payroll tax relief and unemployment benefits, we will end up at the end of 2013 with about over 3 million fewer jobs than we would have had otherwise. just imagine that. the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to...
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they don't want to go over the fiscal cliff. they don't necessarily think the difference is separating these two sides are unbridgeable or unrealistic. they can work out a deal. they have to be adults and be serious and make concessions to the other side and you won't get 100% of what you want. that's the art of compromise. in order to avoid a disaster, the mandatory spending cuts and domestic spending and defense spending, the mandatory increases across the board taxes from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to compromise and they want a deal and they want the president and john boehner, the republican leadership and democrati
they don't want to go over the fiscal cliff. they don't necessarily think the difference is separating these two sides are unbridgeable or unrealistic. they can work out a deal. they have to be adults and be serious and make concessions to the other side and you won't get 100% of what you want. that's the art of compromise. in order to avoid a disaster, the mandatory spending cuts and domestic spending and defense spending, the mandatory increases across the board taxes from everyone if we go...
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so that will put him front and center in the fiscal cliff debate. also earns him a meeting today with the current treasury secretary, tim geithner. cnn's kate ballolduan on capito hill, day 33, eek, 33 days, tim geithner kicking into this process. we would assume possibly pushing into high gear or more of a photo op or a little bit of both? >> reporter: it remains to be seen. i hate having to say that for our viewers, but we're waiting to hear exactly what comes out of these meetings. important, nonetheless, because these are face-to-face meetings with principle players, timothy guide next the treasury secretary, tapped by the president to be the point person to spearhead the negotiations with congress over these fiscal cliff negotiations. we had had a brief shot of him arriving this morning as he was coming into the capitol. he's being joined by rob neighbors, the white house liaison to congress. he's a man that has long standing relationships with folks on capitol hill. series of meetings, all individual meetings, senator reid, told by my colleagu
so that will put him front and center in the fiscal cliff debate. also earns him a meeting today with the current treasury secretary, tim geithner. cnn's kate ballolduan on capito hill, day 33, eek, 33 days, tim geithner kicking into this process. we would assume possibly pushing into high gear or more of a photo op or a little bit of both? >> reporter: it remains to be seen. i hate having to say that for our viewers, but we're waiting to hear exactly what comes out of these meetings....
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that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and my colleague congressman tim walls, filed a discharge petition today to take the bill that we have, that has already passed the senate, that grants certainty to the middle class, to take that bill up and make sure that we can extend the middle class tax breaks before the holidays where we can give -- that's what everyone agrees on. i don't know any republican or democrat that thinks we should let those tax rates -- tax cuts for the middle class expire. so we should pass that now. and then on the things that we're having more trouble agreeing on, we should sit down at the table. the one thing i
that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and...
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i think this brinksmanship about the budget and the fiscal cliff is all just fine. i don't want to go over the cliff. >> does the president want to go over? we got to listen to all the republicans and the conservative media today are saying president obama wants to go over the fiscal cliff because then taxes go up across the board. >> which is not what the president wants, but there's a big difference between this fiscal cliff and the full faith and credit of the united states. the american government has never defaulted on its debt. and now there are some, not the majority of republicans but some on the extreme of the republican party and they seem to be in control, who seem to want to default on our debt. that's crazy. if they cannot be entrusted with the full faith and credit of the united states, they should not have that leverage. >> paul, where were the overtures though? where were the overtures with this deal that was presented? i mean, listen, you don't have to be mensa to know delivering a deal like that was going to make mitch mcconnell laugh. where were t
i think this brinksmanship about the budget and the fiscal cliff is all just fine. i don't want to go over the cliff. >> does the president want to go over? we got to listen to all the republicans and the conservative media today are saying president obama wants to go over the fiscal cliff because then taxes go up across the board. >> which is not what the president wants, but there's a big difference between this fiscal cliff and the full faith and credit of the united states. the...